Account Now Gold Prepaid Visa review
January 22, 2020
Get rewarded with the Account Now Gold Prepaid Visa
The Account Now Gold Prepaid Visa card provides the widespread purchasing power of a credit card without the monthly interest of standard credit offerings. Instead, you deposit money onto your card and use it anywhere Visa debit cards are accepted. You’re in control of how much you load onto your card and how much you spend.
If you’re looking for a way to better manage your spending but still want the wide reach that comes with Visa cards, the Account Now Gold Prepaid Visa card may be a good fit.
What to expect from the Account Now Gold Prepaid Visa
- APR: None
- Annual Fee: $9.95 per month.
- Reward Rates: No reward rates.
- Intro Offer: No introductory offer.
- There are also no interest charges because the card is prepaid — you’re not borrowing money from a lender or paying it back.
- Direct deposit: Paychecks, government benefit checks and tax refunds can all be direct deposited onto your Account Now Gold Prepaid Visa card, making it easy for you to get access to your money without standing in line or paying check-cashing fees.
- Get a $15 bonus: After your second consecutive qualifying deposit of $500 or more, you’ll receive a one-time $15 cash bonus.
- Add money almost anywhere: With more than 135,000 retail partners nationwide, the Account Now card makes it easy to reload your card wherever, whenever to ensure you’ve always got access to cash.
- Shop anywhere: The Account Now Prepaid Visa Card can be used anywhere Visa debit cards are accepted in the United States, from online stores to gas stations to car rental services to hotels and airlines.
- Get fraud coverage: The Visa Zero Liability policy protects your card from authorized purchases and helps keep your money safe.
- Pay bills online: Use the Online Bill Pay service from Account Now to create a list of monthly bills that will be automatically processed and paid each month, making it easier to stay ahead of important payments and avoid the expenses of money orders or large cash withdrawals. Same- and next-day payments are also available for a fee.
- Withdraw at millions of ATMs: Withdraw cash from more than one million ATMs across the country.
- Large cash limit: You card can carry a maximum balance of $10,000 in cash at any time.
But keep your eyes open for pitfalls
While the Account Now Gold Prepaid Visa card offers a variety of benefits, there are also potential drawbacks to this debit-type Visa card. First is the monthly fee — even if you don’t spend any of your prepaid balance, you pay $9.95 per month. You also pay for any withdrawals: $2.50 per transaction at U.S. ATMs, $4.95 per transaction at non-U.S. ATMs and 3% of the amount withdrawn at bank tellers. Fees are avoided when you make debit purchases at point-of-sale (POS) machines, but you may not always wish to make a purchase just to access funds.
Other fees also apply including $1.50 for any balance inquiries, up to $4.95 to reload your card at any retail location and $2.50 per transaction whenever funds are withdrawn from your account via ACH. In addition, expedited bill pay services cost $9.95 each.
It’s also worth noting that there are specific limits on this card: Cardholders can have a maximum balance of $10,000 and can only deposit a maximum of $1,500 per day into their account. Customers without a recurring direct deposit from their payroll or benefits provider to their Account Now card can withdraw up to $300 per day at ATMs; those with direct deposit enabled can withdraw $500 per day. Those without direct deposit can make up to $2,000 per day in POS transactions, while those with direct deposit can use POS for up to $3,000 worth of purchases per day. Third parties — such as retailers or banks — may also impose their own restrictions or limits.
If you like the idea of a prepaid Visa but also want to earn cash back for every purchase, consider the Green Dot Cash Back Visa Debit Card from Account Now. This card offers 5% cash back on all purchases — up to $100 annually — along with ASAP direct deposit, which allows access to your paycheck up to two days early when your payroll or benefits provider confirms the incoming deposit in advance of your regular payday.
If you prefer a credit card to a prepaid solution, consider a secure option like the Secured Mastercard from Capital One. Get access to a minimum $200 credit line with a $49, $99 or $200 refundable security deposit, or deposit more for a higher credit line. Plus, get access to higher credit lines when you make your first five monthly payments on time.
How to maximize your Account Now Gold Prepaid Visa Rewards
The biggest benefit of the Account Now Gold Prepaid Visa card is the ability to manage your cash flow without worrying about interest or overdraft payments. Maximize the value of this card by using it as a debit card wherever possible to avoid extra fees, set up direct deposit to get your paycheck on time and create recurring monthly payments to make sure your bills are always covered.
If you’re looking for a card that provides secure access to cash without worrying about interest rates and potential missed payments, the Account Now Gold Prepaid Visa Card may be a great fit.
If cash back is your priority but you still want the ease-of-use that comes with prepaid cards, consider the Green Dot Cash Back Visa Debit Card. And if you’re looking to rebuild your credit with a secure card option, meanwhile, the Capital One Secured Mastercard may fit the bill.
An award-winning finance, technology and security writer, Doug has a knack for distilling complex concepts down into actionable, readable copy that generates interest and drives engagement